Question

Why was Secretary of State Thomas Jefferson opposed to the creation of a national bank? He did not feel the federal government had the necessary skills to run a bank. He felt that the Constitution did not authorize the government to create a bank. He was afraid it would lead to increased taxes for poor, working-class citizens. He was afraid that the creation of a national bank would lead to more debt.

Answer 1

Thomas Jefferson believed that Hamilton's proposal for a national bank exceeded the government's authority as set by the Constitution of the United States.

Answer 2

He felt that the Constitution did not authorize the government to create a bank.